Mitrajaya Holdings Bhd”s shares trade on positive note over announcement of RM497.3 million development

KUALA LUMPUR, Oct 27 — Mitrajaya Holdings Bhd’s shares on Bursa Malaysia traded on a positive note in the morning session yesterday following the company’s announcement of a RM497.3 million development on a 0.4 hectare land in Pretoria, South Africa.

In a filing to Bursa Malaysia, Monday, the group said that its unit, Mitrajaya Development SA Proprietary Ltd, had last Friday signed a deed of sale with Scarlet Ribbon Properties 27 (Pty) Ltd to buy the land for RM12.47 million.

“The acquisition, to be satisfied fully in cash via internally generated funds, is expected to be completed by Jan 31, 2016,” it added.